The business for sale is an investment opportunity in monetizing the aging population trend. The investor will buy a turnkey investment, ready to provide income.
Greece was a country where the family was the mainstay of the care of the elderly. Today, many parents grow old alone, away from children who have set up their lives abroad. Today, the parents of these children are starting to grow old, approaching or over 80, showing problems of mental and physical disability, and are alone.
The business, located in the prefecture of Thessaloniki, has 56 beds in fully furbished rooms and all necessary equipment, but due to unforeseen reasons, never actually operated. It was built in 2004. It is a three-story building with care rooms at the ground and 1st floor and health and exercise equipment at the basement. With some minor further investment can be converted into a full Rehabilitation Center eg for athletes (it is licensed for both). The 2.000sqm buildings could be expanded by 1.500sqm more in the same lot.
The stay of elderly in a Care Home business is as long as the patient and his family are looking for a definitive, reliable solution. Practically this means that once a bed is "filled", the unit can count on it being occupied for a period of at least 8-12 months (depending on the severity of the patient's state of health).
- Asking Price:
- €2,350,000 Furniture / Fixtures included
- Sales Revenue:
- Under €100K
- Cash Flow:
- Under €50K
Property Information
- Real Estate:
-
Real Property Included
- Location:
-
Just outside a smaller town in the prefecture of Thessaloniki
- Premises Details:
-
The nursing home is built over three levels, on a 6,035.00 sq. m. plot of land.
- Size in square feet:
- 65,000
Business Operation
- Expansion Potential:
-
Option A: Relaunch operations as an elderly care unit, performing a simple renovation of the facilities and equipment and work towards achieving 100% occupancy rate which will result in an estimated EBITA of 250,000 EUR p.a.
Option B: Implement of a more extensive Investment program with the aim of converting the existing facility into a 20-bed Physical Rehabilitation Center (PRC), which will result in an expected EBITA in between 380.000 EUR and 700.000 EUR p.a.
- Competition / Market:
-
Greece is lacking in elderly care homes. There is competition but the demand is very high.
- Reasons for selling:
-
The owner lives abroad and never operated the facility
- Trading hours:
-
N/A
- Employees:
- 0
- Years established:
- 18
Other Information
- Support & training:
-
Not required, the facility never operated
- Financing available:
-
Our company, ErgoQ, can support you in securing bank financing as well as up to 50% subsidy on further expansion plans
- Furniture / Fixtures value:
- €1,000,000 - included in the asking price
- Business closed / Asset sale:
- Yes
